Economy takes bike out of pizza sales
NEW YORK - With dinner traffic slowing as more consumers eat at home, sales at U.S. locations open at least a year have declined at all the major pizza chains.
But the pain hasn't been spread equally. Domino's Pizza Inc. and Yum Brands Inc.'s Pizza Hut are taking hits on the bottom line, while Papa John's International Inc. managed to raise its profit in the fourth quarter even as sales dipped.
Domino's reported late Tuesday that its profit dropped 32 percent in its fourth quarter, which ended Dec. 28. Sales at locations open at least a year, known as same-store sales, fell 3 percent in the U.S. even as they climbed overseas. The company does not offer specific earnings guidance but did say it expects flat same-store sales overall in 2009.
To boost sales, Domino's launched hot sandwiches last year - a move it said has started bringing in more customers.
"Sandwiches has driven a significant improvement in our traffic trends," said Chief Executive Dave Brandon on a conference call with investors Tuesday.
- The Associated Press
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02-27-09 10:08 AM
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Take A Bike Out of Crime.
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